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Private sector Banks retail slippages are once again on the rise
August 02, 2022
![Private sector Banks retail slippages are once again on the rise](https://ask.careers/wp-content/uploads/2022/08/private-sector-banks-retail-slippages-are-once-again-on-the-rise-1024x768.png)
According to the report, major private banks such as ICICI Bank, IndusInd Bank, Axis Bank, and Yes Bank have reported higher slippages in retail books due to micro-loans, credit cards, and vehicle loans, but there is no cause for concern.
The second largest private lender in India, ICICI Bank, in the June quarter, reported a 50 per cent YoY growth in standalone profit at ₹6,905 crore as against a profit of ₹4,616 crore in the June 2021 quarter.
Net interest income increased by 20.8 per cent in the June quarter to ₹13,210 crore, up from ₹10,936 crore in the same period the previous fiscal. The net interest margin came in at 4.01 per cent for the June ending quarter.
However, the bank reported slippages of ₹5,037 crore in retail loans, including rural and business banking loans, in the June quarter, compared with ₹788 crore for corporate and SME loans.
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